Angi (NASDAQ:ANGI) Trading Up 5.9% – Here’s Why

Shares of Angi Inc. (NASDAQ:ANGI) shot up 5.9% during mid-day trading on Monday . The company traded as high as $1.99 and last traded at $1.97. 1,007,142 shares changed hands during mid-day trading, an increase of 33% from the average session volume of 755,686 shares. The stock had previously closed at $1.86.

Analyst Ratings Changes

Several research firms have recently commented on ANGI. Citigroup cut shares of Angi from a “buy” rating to a “neutral” rating and lowered their price target for the company from $3.25 to $2.00 in a report on Wednesday, November 13th. JMP Securities cut their price target on Angi from $3.25 to $3.00 and set a “market outperform” rating for the company in a research note on Wednesday, November 13th. UBS Group raised Angi to a “hold” rating in a research note on Monday, October 28th. The Goldman Sachs Group lowered shares of Angi from a “buy” rating to a “neutral” rating and cut their price objective for the company from $3.25 to $2.50 in a research report on Wednesday, November 13th. Finally, KeyCorp reduced their price target on Angi from $3.00 to $2.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3.11.

Angi Price Performance

The stock’s 50-day moving average is $2.34 and its 200-day moving average is $2.29. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.46. The firm has a market cap of $984.59 million, a P/E ratio of 27.36 and a beta of 1.95.

Angi (NASDAQ:ANGI) last announced its quarterly earnings data on Monday, November 11th. The technology company reported $0.07 EPS for the quarter. The company had revenue of $296.72 million during the quarter, compared to the consensus estimate of $295.90 million. Angi had a return on equity of 3.79% and a net margin of 2.61%. During the same quarter last year, the company earned ($0.01) EPS. As a group, equities analysts anticipate that Angi Inc. will post 0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC bought a new position in Angi in the 2nd quarter valued at $26,000. Barclays PLC lifted its position in Angi by 1,255.5% during the 3rd quarter. Barclays PLC now owns 16,401 shares of the technology company’s stock worth $42,000 after buying an additional 15,191 shares in the last quarter. Centiva Capital LP bought a new stake in Angi during the 3rd quarter worth about $46,000. Susquehanna Fundamental Investments LLC acquired a new stake in Angi in the 2nd quarter valued at about $85,000. Finally, Verition Fund Management LLC acquired a new position in Angi during the 3rd quarter worth $116,000. 12.84% of the stock is owned by institutional investors and hedge funds.

Angi Company Profile

Angi Inc connects home service professionals with consumers in the United States and internationally. The company operates through three segments: Ads and Leads, Services, and International. It provides consumers with tools and resources to help them find local, pre-screened and customer-rated service professionals, matches consumers with independently established home services professionals.